The FIA, the international sanctioning body based in Paris, has launched a new task force initiated by FIA President Mohammed Ben Sulayem to provide clarity on global motor sport insurance policy and the impact of its rising costs.

The motor sport sector has reported escalating premiums, restricted coverage and reduced access to insurance that risks the sustainability and growth of motorsport at a global level.

Under the direction of Ben Sulayem and co-led by FIA Secretaries General Valerio Iachizzi and Willem Groenewald, as well as with the support of representatives from the FIA Member Clubs and insurance and risk management experts, the committee will review the growing issue and aims to deliver clear guidance and practical solutions for members, the organization said, and ultimately provide educational resources, global understanding and cross-governmental engagement to support FIA member clubs as they navigate the changing insurance landscape.

"Our Members are at the heart of everything we do at the FIA, delivering outstanding work worldwide in both sport and mobility. As their federation, it is our duty to provide clarity, guidance and representation in global governance on issues that shape the future of motor sport," said Ben Sulayem.

"The FIA is committed to ensuring motor sport and mobility are safe, sustainable, affordable, and accessible, while driving global growth. Rising insurance costs risk limiting opportunities and undermining accessibility across the world. To address this, we must work hand in hand with our clubs, insurers and local authorities to deliver solutions that keep our sport safe, fair, and sustainable for all."

The task force will:

• Examine the scale, scope and impact of these challenges
• Identify the core issues and root causes
• Develop metrics and benchmarks to assess the financial and operational implications
• Evaluate the potential risk to the future of motor sport if left unaddressed

With the assessment phase now underway, an interim report will be delivered at the FIA Annual General Assemblies in Tashkent, Uzbekistan in December.

For more information, visit fia.com.

Graphic courtesy of the FIA